The global cosmetic ingredients market is growing at a CAGR of 9.89% over the forecast period
PUNE, MAHARASHTRA, INDIA, April 7, 2022 /EINPresswire.com/ – “Global Cosmetic Ingredients Market Analysis To 2030” is a specialized, in-depth industry study with a focus on analyzing global market trends. The Cosmetic Ingredients Market Report aims to provide an overview of the Cosmetic Ingredients market with detailed market segmentation by type, application and geographic area. The global Cosmetic Ingredients market is expected to see high growth during the forecast period. The report provides key market status statistics for major Cosmetic Ingredients market players and offers key trends and opportunities in the market.
The history of the cosmetics industry can be traced back in time as far back as the Egyptian, Greek and Roman times and this market has been growing at a steady pace ever since. Over the years, the cosmetics industry has become incredibly competitive, where quality, safety and efficiency are of the utmost importance. For this reason there is a growing need among market participants to release newer products that offer greater reliance on new and better ingredients, which offer greater sustainability. Cosmetics are made up of a combination of ingredients that may or may not have a positive impact on health and skin. These ingredients are used to give cosmetics specific properties. Few cosmetic ingredients include water, allergens, alpha hydroxy acids, beta hydroxy acids, oleochemistry, and diethanolamine, among others. With the growing global demand for cosmetic products, the cosmetic ingredients market is evolving and more environmentally friendly ingredients are being chosen for the formulation of cosmetics.
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The skincare category represented the highest market share in 2020 in the global cosmetic ingredients market. This growth is attributed to the demand to focus more on skincare-based M&A businesses and an aging growing population. For example, over the past two decades Unilever has consistently been part of a series of skin care product acquisitions such as Dollar Shave Club, Murad Skincare, Kate Somerville Skincare, Dermalogica and REN Skincare. On the other hand, South Korea is now considered the leader in the skin care category with major brands such as Tony Moly and Too Cool, while established regional brands such as kao, Shiseido, Amorepacific of Korea and Kose of Japan together. Local brands like Godrej in India and Shanghai Jahwa in China are growing at a faster rate than their global peers. The range of skin care products such as anti-aging and firming lotions, night creams and formulations, skin lighteners and cleansers, among others, are gaining more traction and it has been observed that consumer spending is higher for various skin care products.
Asia Pacific is expected to grow at the fastest pace over the forecast period in the global cosmetic ingredients market. The Asian region is rich in natural resources which are used in cosmetics as ingredients, so the cost of obtaining the raw materials is very low compared to other regions. Additionally, there are various companies that are expanding / relocating their manufacturing base in Asia, to meet the growing demand for cosmetics in these regions. Another factor that offers a competitive advantage to market participants in this region is the low cost of labor, which allows them to offer products at affordable prices. Latin America is expected to represent the second largest growth rate in the global cosmetic ingredients market.
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Major players operating in the global cosmetic ingredients market:
• Land of Ashes
• BASF SE
• Croda International Plc
• Evonik Industries AG
• Roquette Brothers
• The Lubrizol Corporation and Wacker Chemie
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Global market of cosmetic ingredients
By type of ingredient
• Emulsifier and Stabilizer
• Botanical extracts
• Alpha hydroxy acids
• Beta hydroxy acids
• Latex and Parabens
• Substances for and polyfluoroalkyls (PFAS)
• Skin care
• Hair care
• Do that
• Personal care
• Oral hygiene
• Child care
By sales channel
• North America (United States, Canada, Mexico, Rest of North America)
• Europe (France, United Kingdom, Spain, Germany, Italy, Nordic countries, Benelux Union, Rest of Europe)
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)
• Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Kuwait, South Africa, Rest of the Middle East and Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)
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